HBI-A Heads Up

I set a lot of alerts looking for certain things to happen, mostly trades to come our way, HBI was set off this morning and while I'm not saying it is a short right now, it may become one shortly, as I have mentioned from time to time, a friend coined it best, "From failed moves come fast moves", HBI is in position that a failed move here could send it to the bottom of it's long term trading range and that may be a trade worthwhile, especially with a little leverage.

 a 5-day chart of the range...

 Today's daily chart with HBI so far showing a bearish long upper wick as higher prices this morning have been rejected as it breaks above the recent resistance range. Volume is also suspect for a move like this.

The intraday 5 min chart shows what looks like churning in the first 10 minutes of the day, this is one to keep on the radar, a move back below the $30.50 area could present an interesting short sale for a ride back to the bottom of the long term range, I'll also keep an eye on developments.